Green Dot Corporation (NYSE: GDOT) released its financial results for the third quarter of 2026 on November 9, 2026. The company reported total operating revenues of $601.1 million for the quarter ended September 30, 2026, representing a 21% increase compared to the same period in 2025. On a year-to-date basis, total operating revenues reached $1.85 billion, up 19% from the first nine months of 2025.
GAAP net loss for the third quarter was $7.4 million, a significant improvement from a net loss of $30.8 million in the prior year. Non-GAAP adjusted EBITDA for the quarter was $25.8 million, an increase of 9% year-over-year. The company reported cash at the holding company of approximately $38 million as of September 30, 2026.
Green Dot also provided details on its business segments. B2B Services revenue growth was driven by demand in its Bank-as-a-Service (BaaS) division. The Money Movement Services segment saw year-to-date revenue in its tax business increase by nearly 17% due to market share gains and a new franchise partner launch. Conversely, the Consumer Services segment faced headwinds in retail and lower marketing spend.
The company announced that it entered into agreements to be acquired by affiliates of Smith Ventures, LLC and CommerceOne Financial Corporation. Upon completion, Smith Ventures will acquire the non-bank financial technology assets, and CommerceOne will acquire Green Dot Bank. The transactions are expected to close by the first quarter of 2027, subject to regulatory approvals. As a result of these pending transactions, Green Dot will not hold an earnings conference call or provide 2026 financial guidance with this release.
